Author: Vincent Mau (Vincent Mau)

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Domestic Market Penetration Rate for New EV Cars Exceeded 50% for Seven Consecutive Months
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Domestic Market Penetration Rate for New EV Cars Exceeded 50% for Seven Consecutive Months

2024 was a banner year for electric vehicles (EVs) in China. Over 6.5 million traditional vehicles were scrapped and replaced, and the domestic market penetration rate for new EV cars exceeded 50% for seven consecutive months starting in June. Annual domestic EV retail sales reached a remarkable 11 million units, a testament to the rapid...

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